[Global Financial Insights] PCAOB Issues Inspection Reports for 10 Global Audit Firms and More
Editorial Team – [2026] 183 taxmann.com 345 (Article) Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update: 1. PCAOB Issues Inspection Reports for 10 Global Audit […]
Society Acting as Pharma Promotion Conduit Not Eligible for Section 12A Registration | ITAT
Case Details: C-Dot Forum vs. CIT (Exemptions) Chandigarh [2026] 183 taxmann.com 89 (Amritsar-Trib.) Judiciary and Counsel Details Udayan Das Gupta, Judicial Member & Manoj Kumar Aggarwal, Accountant Member Rishabh Marwaha, CA for the Appellant. Sunil Gautam, CIT. DR for the Respondent. Facts of the Case The assessee was a society that organised seminars, conferences, and events to […]
Inverted Duty Refund Allowed Even When Input and Output GST Rates Are Same | HC
Case Details: South Indian Oil Corporation vs. Assistant Commissioner Central Tax – [2026] 182 taxmann.com 864 (Karnataka) Judiciary and Counsel Details S.R. Krishna Kumar, J. Venkatanarayana G.M., Adv. for the Appellant. Akash B. Shetty, Adv. for the Respondent. Facts of the Case The petitioner was engaged in the procurement of edible oils falling under HSN Code 15 […]
IFSCA Mandates IFSC ISINs for Demat Securities
Circular F No. IFSCA-PLNP/85/2025-Capital Markets, Dated: 06.02.2026 The International Financial Services Centres Authority (IFSCA) has directed that all Units operating in the IFSC and intending to dematerialise securities or other permitted financial products must obtain International Securities Identification Numbers (ISINs) from a depository recognised by IFSCA. This measure is aimed at strengthening the regulatory and […]
Seeking stakeholders' input on the proposed Income-tax Rules and related Forms relating to the Income Tax Act, 2025
Details : Publish Date : Sunday, February 8, 2026 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1236/Seeking-stakeholders-input-on-the-proposed-Income-tax-Rules-and-related-Forms-relating-to-the-Income-Tax-Act25.pdf source
Securitisation Trust Revocable – Income Taxable to SR Holders | ITAT
Case Details: Income-tax Officer vs. Arcil Retail Loan Portfolio – 001- A- Trust [2026] 182 taxmann.com 849 (Mumbai-Trib.) Judiciary and Counsel Details Amit Shukla, Judicial Member & Makarand Vasant Mahadeokar, Accountant Member Rajesh Kumar Yadav, CIT-DR for the Appellant. Jeet Kamdar for the Respondent. Facts of the Case The assessee was a securitisation trust constituted by […]
RBI Keeps Repo Rate Unchanged at 5.25% | Maintains Neutral Stance
Press Release: 2025-2026/2053, Dated 06.02.2025 The Monetary Policy Committee (MPC) of the Reserve Bank of India, after assessing evolving macroeconomic and financial developments and the overall economic outlook, has decided to keep the policy repo rate unchanged. 1. Policy Rates Under the Liquidity Adjustment Facility (LAF) As per the MPC’s decision, the key policy rates […]
Enhanced Gratuity Cannot Be Withheld Pending Clarification | HC
Case Details: Som Nath vs. Punjab State Water Resources Management and Development Corporation Ltd. [2025] 181 taxmann.com 785 (HC – Punjab & Haryana) Judiciary and Counsel Details Deepinder Singh Nalwa, J. A.S Walia, Adv. for the Petitioner. Ms Monika Sharma, Adv. for the Respondent. Facts of the Case In the instant case, the petitioner retired from […]
DRC-07 Quashed for Portal Glitch – SCN Not Uploaded | HC
Case Details: Tamil Nadu Auto Parts vs. Deputy Commissioner (CT) [2026] 182 taxmann.com 874 (Madras) Judiciary and Counsel Details C. Saravanan, J. S. Rajasekar for the Petitioner. TNC Kaushik, Additional Government Pleader for the Respondent. Facts of the Case The petitioner challenged the assessment order issued in Form GST DRC-07, alleging that the show cause notice (SCN) […]
Overseas BSS Not Intermediary – ITC Refund Allowed | HC
Case Details: Li and Fung (India) (P.) Ltd. vs. Union of India [2026] 182 taxmann.com 724 (Karnataka) Judiciary and Counsel Details S.R. Krishna Kumar, J. Tarun Gulati, Senior Counsel & Parashuram A. L., Adv. for the Petitioner. Smt. Jyoti M. Maradi, HCGP & Aravind V. Chavan, Adv. for the Respondent. Facts of the Case The petitioner […]